24/7 Lending Group Reviews

About 24/7 Lending Group

In business since 2001 and based out of Raleigh, NC, 24/7 Lending Group helps consumers with poor credit ratings obtain personal loans for anywhere from $100 to $35,000 or more. While the company advertises that their service can be used by customers in all credit brackets, they specialize in those with poor and no credit. According to their website, current interest rates range between 6.46% and 33%, with a minimum borrowing term of one year, and a maximum of six.

24/7 Lending Group is not registered with the Better Business Bureau, but appears to have a relatively good reputation, based on a wide variety of online customer reviews. Most feedback appears to be positive, with the majority of complaints referencing poor communication. However, 24/7 Lending Group also maintains a strong online presence, and appears to answer customer questions and complaints fairly quickly.

How 24/7 Lending Group Works

Contrary to what the company’s name might lead you to believe, 24/7 Lending Group is not a lending service. Instead, they act as a “middleman” for a group of more than 50 direct (also known as “payday advance”) lenders. In other words, they help you choose a qualified lender that best matches your specific needs, such as loan amount, repayment schedule, etc.

In order to apply for a loan through 24/7 Lending Group, you must meet four criteria:

At least 18 years of age,

A citizen of the United States,

Actively employed, or receiving a regular income (e.g. disability, retirement, etc.), and

An active checking account.

The 24/7 Lending Group Loan Process

To begin using 24/7 Lending Group’s services, you’ll first need to fill out a short application, where all included information should be accurate and up to date. According to the company’s website, the details obtained during your loan approval process are 100% secure, and will remain completely private throughout.

After your application has been submitted, it will be reviewed and forwarded to specific lenders based on your credit score and loan requirements. Then, you’ll typically receive a phone or email response within 24 hours, and if approved, will also be given important details such as the loan amount, APR, repayment schedule, and so forth.

In addition, it’s important to keep in mind that fees, late payment stipulations, and renewal information is lender-specific, so if there’s something in your contract you don’t understand, this would be the best time to speak up and ask. If you choose to continue after carefully reviewing all the terms and conditions, simply e-sign the agreement, and your money should be available shortly thereafter, either electronically or by check.

Is 24/7 Lending Group a Scam?

Based on our research, 24/7 Lending Group appears to be a legitimate business. However, the company’s target market is individuals with poor or no credit, which means that the majority of their loans are going to carry high interest rates. Because these high rates can also accompany steep late fees and other types of penalties, they can ultimately leave consumers saddled with much more debt than the original loan amount.

With this in mind, it’s typically a good idea to stay away from “personal” or “payday advance” loans, as they can spiral out of control fairly quickly. However, if you absolutely must take out this type of loan, 24/7 Lending Group appears to be a good resource for finding one that best meets your needs.

The company even goes so far as to screen prospective lenders for any indication of being a scam, such as requiring you to pay money upfront, or to add funds onto a prepaid debit card, in order to act as “insurance” for your loan. They also maintain a strong online presence regarding customer questions and complaints, which is a good sign that the company cares about its public image, as well as their customers’ overall experiences.

Pros

Completely free, and easy to use.

Ability to cancel the loan process at any time, without having to worry about incurring penalties or fees.

Needed some money and didn't know what I was going to do

by Margaret Ralph,

Colorado,

Feb 9, 2015

I was in a pinch for a few months and needed money quickly so I would not fall behind on my bills. I contacted 24/7 Lending Group and within a few hours I was told my money would be in my bank in a few days. It was actually deposited into my bank next day. They are my life savers and they were courteous and professional. I would use them again and would strongly recommend them to my friends and family. Thank you!

Sorry we couldn't find you financing. We do help people of all credit types but unfortunately cannot help everyone. We do not guarantee approval. There are several key variables lenders look at when determining approval including but not limited to loan amount compared to your total debt and income (can't apply for a loan you aren't going to be able to afford payments on), your employment history, residence history, open credit lines, payment history (lates and/or defaults), use of payday loans, etc..

Fast, professional financial services

by Jeannett Maker,

Bakersfield, CA,

Jan 9, 2015

The process was true to the degree that is truly noteworthy. From completing the form to the explanation of steps and delivery of fund, it was a great experience. The money was there when they said. So simple.

247 Lending Group - Def' Thumbs Up

by Brenda,

Dec 19, 2014

I saw an ad for another "quick loan" and the reviews were horrible. I saw 24/7 Lending Group and the reviews overall were good so thought Why Not! The process was super fast, I was approved, and funded! I highly recommend!

GREAT FOR POOR CREDIT / BAD CREDIT

by KIMBERLEY,

CALIFORNIA,

Nov 19, 2014

I was nervous about an online loan service. After submitting loan application, my loan officer contacted me and within a day he had my loan approved and the money in my account. Because my credit is poor I do pay a higher interest rate, but I needed a short term loan and banks would not even consider me. I will be able to repay loan early without any penalties. This loan has enable me to take care of important things and now I don't have to worry any more.

Disappointment

by Anonymous ,

Oct 24, 2014

Bottom line: If you're fresh into the world of credit, do not go to 24/7 lending group. They lied and said someone would help and then they said no they couldn't help! I am gainfully employed, I just had to switch jobs due to living situations and my bills began to pile! It's not reasonable to get someone whose has faith you rowelled up for something so untrue. I'm disappointed and hurt.

We do help people of all credit types but unfortunately cannot help everyone. We do not guarantee approval. There are several key variables lenders look at when determining approval including but not limited to loan amount compared to your total debt and income (can't apply for a loan you aren't going to be able to afford payments on), your employment history, residence history, open credit lines, payment history (lates and/or defaults), use of payday loans, etc..